Minnesota’s net general fund receipts for FY 2018 are now estimated to total $22.034 billion, $348 million (1.6 percent) more than projected in the February 2018 Budget and Economic Forecast. Higher than expected net individual income tax, corporate tax receipts, and other receipts more than offset net sales tax receipts that were less than forecast. General fund revenues for FY 2018 are now estimated to be 4.7 percent greater than in FY 2017. State revenues in the final quarter of FY 2018 were $342 million more than forecast. (See page 4 for details.)

View complete July 2018 Revenue and Economic Update